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Cineplex to reopen some Canadian theatres as coronavirus causes revenues to plunge

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globalnews.ca

Cineplex Inc. is reopening some of its theatres across Canada as the company struggles with the fallout of COVID-19 and the demise of its takeover deal.The Toronto-based movie theatre company will open some theatres in British Columbia, Saskatchewan, Quebec, New Brunswick, Nova Scotia and Newfoundland on Friday.The reopenings come as Cineplex vows to sue U.K.-based chain Cineworld PLC for calling off a $2.8-billion takeover of the company.On Monday, Cineplex said the COVID-19 pandemic had a “material negative effect” on its operations and resulted in a $178.4-million loss in the first quarter.The company lost $2.82 per diluted share for the three months ended March 31, compared with a loss of 12 cents per share or $7.36 million a year.

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